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August 30, 2024 New Delhi, India WTI Oil Prices West Texas Intermediate (WTI) Oil prices continue to rise, trading around $75.50 per barrel during Friday’s Asian session, driven by growing supply concerns in the Middle East. Key factors behind this increase include Libya’s halted Oil exports and Iraq’s plans to cut Oil production starting next…
August 27, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) traded on a weaker note during Tuesday’s early European session. The local currency faced pressure from month-end demand for the US Dollar (USD) by local banks and corporations, as well as a surge in crude oil prices, which typically weigh on the INR….
August 10, 2024 New Delhi, India Oil Price Surge Oil markets experienced a significant uptick this week, with prices rising over 3% amid encouraging U.S. economic data and growing expectations of a potential Federal Reserve rate cut. The combination of these factors, along with ongoing geopolitical tensions, has provided a strong foundation for the rally,…
August 8, 2024 New Delhi, India WTI Price West Texas Intermediate (WTI) Oil has retraced its recent gains from the previous session, trading around $74.00 during the early European hours on Thursday. Despite the dip, crude oil prices might regain support from rising concerns about supply constraints due to ongoing geopolitical tensions in the Middle…
July 25, 2024 New Delhi, India WTI Crude Oil Price Oil prices eased on Thursday as concerns over weak demand in China, the world’s largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains from the previous session after draws in U.S. inventories. Market Overview: Brent Crude and WTI…
July 17, 2024 New Delhi, India WTI Oil Prices Analysis West Texas Intermediate (WTI) crude oil prices edged closer to $80 per barrel, bolstered by a significant decline in US oil stockpiles. The American Petroleum Institute (API) reported a substantial drop of 4.4 million barrels for the previous week, contrasting sharply with expectations. This news…
July 16, 2024 New Delhi, India Oil Prices Oil prices have slipped due to worries about a slowing Chinese economy, which is expected to dampen demand. However, the potential for the U.S. Federal Reserve to cut interest rates as early as September has limited further declines. Key Highlights: Oil Price Movements: Brent Crude: Fell 21…
April 15, 2023 New Delhi, India Major Highlights Of The Day India’s Merchandise Trade Deficit Narrows in March India’s Commerce Ministry released trade data for March 2024, revealing a significant reduction in the country’s merchandise trade deficit. The deficit narrowed to $15.6 billion, down from $18.71 billion in February and $18.96 billion in March 2023….
February 16, 2023 New Delhi, India India Adjusts Oil Taxes In response to the fluctuating global oil market, India’s Ministry of Finance has announced adjustments to oil taxes. Here’s a breakdown of the key changes: Marginally Raised Windfall Tax The windfall tax on the sale of domestic crude oil has been marginally increased to ₹3,300…
February 15, 2023 New Delhi, India US Stockpile Surge Pressures WTI Prices West Texas Intermediate (WTI) crude oil prices took a hit, dipping close to $75.0 per barrel, amidst a significant surge in US crude oil stockpiles. The Energy Information Administration reported an unexpected increase, with stocks rising by 12.018 million barrels to reach 439.5…
